MEFIN’s Work on CDRI

MEFIN promotes the development of Climate and Disaster Risk Insurance in Asia. In 2018, it established a Technical Working Group on (Climate and) Disaster Risk Insurance (TDRI) to undertake peer-to-peer exchange on DRI regulatory and policy developments among MEFIN countries, assess their impacts on the DRI market, and recommend new business models. Since 2019, MEFIN has been including the topic of CDRI in its Public-Private Dialogues, Tuesdays with MEFIN webinars and other knowledge exchange events and platforms including its website. Moreover, the Network conducts training activities to develop capacities of partners to develop quality CDRI products and business models. In its events, MEFIN encourages the participation of regulators, insurance providers and other stakeholders.

The VIP Engine (Vietnam, Indonesia, Philippines) that MEFIN is setting up aims to serve as risk and financial modelling platform which processes hazard-exposure-vulnerability data for risk analysis and estimation of catastrophe loss. Studies are also conducted to formulate cross-border criteria for CDRI product development and to identify ways of using digital technology for customer protection.